iGaming: “Nigeria has largest player base with 60m stakers”

The African iGaming landscape is evolving fast. Once a niche market, it thrives thanks to the advancements in internet connectivity and mobile phone usage. Nigeria has the largest player base, with an estimated 60 million, mostly young locals engaging in gambling.

As the trend thrives, Nigeria, S’Africa, Kenya have been identified as frontline countries fuelling iGaming in Africa. A report put together Africa Business Communities said iGaming in Africa faced several challenges over the years due to limited internet access and the high cost of technology. It noted that yhe landscape changed rapidly as fast internet and smartphones became more accessible and affordable.

“Improved internet infrastructure has been a game-changer. With faster internet, gamers now enjoy seamless online experiences. This contributes significantly to the industry’s growth. South Africa, Nigeria, and Kenya are prime examples of internet connectivity fueling a spike in iGaming activities.”

“The proliferation of smartphones has transformed iGaming into a mainstream activity. Affordable smartphones have made online gaming platforms more accessible to a broader demographic. They have broken down barriers that previously restricted the growth of iGaming in the region,” – the report said.

It noted that statistics showed a steady rise in iGaming activities across Africa. Increased internet penetration rates and mobile phone usage are the driving forces behind this growth. Industry reports highlight the rising number of online gaming platforms and users.

“Take the recent sports betting growth in South Africa, for example. It was fueled by the improving infrastructure, the growing interest in betting, and the increasing interest in sports. Between 2016 and 2019, South Africa has seen its iGaming market grow by 29%, reaching a total value of ZAR2.3 billion. According to recent estimates, it could reach ZAR4 billion by 2024. In Nigeria, the value of the iGaming market is similar, even if it has more users.”

While it doesn’t have the player base of the other two, South Africa leads in market value. The casino sector is the largest gaming vertical here, with sports betting not far behind. South Africa has the largest GDP of the three, which is reflected in spending on iGaming.

Kenya is third in both areas, with a robust sports betting market. The locals bet mostly on football, reflecting a strong interest in this sport, especially among the younger population. “Despite the positive trends, the iGaming industry in Africa faces challenges. Regulatory hurdles are holding back its growth in some countries.

Experts predict, in turn, continued growth for the iGaming industry in Africa, even in the face of these challenges.

“Internet speeds keep improving, and smartphones are spreading fast. These and the improving regulatory environment are helping the sector’s further growth. “The improvement of internet speeds and the spread of smartphones have been pivotal in shaping iGaming in Africa. As these trends continue, the future of iGaming in Africa looks bright, promising more opportunities and growth in the years to come,” – the report said.

Source: newtelegraphng.com

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